We want the g$ price to go back to where it was, we are very optimistic about this group of cows, I have a lot of faith in Good Dollar, never thought it would happen.
Anyway, a lot has gone wrong with Good Dollar, hopefully the Good Dollar team will cut through all the obstacles and come back to the way it was before, that’s what we come to Good Dollar
Could you please explain your propposed distribution to the GOODDAO in more details?
My idea is an option to create more LP holders while automatic converting G$ to $ when some price is reached. Also using Uniswap ranges would let you control at what price levels the token is easier to convert to $. Anyway Uniswap is a very tricky complex protocol, this idea
do you have any projection on price stability?
I dont think there should be any difference on price stability despite the difference on the price discovery between both protocols, Uniswap vs Bancor.
Price stability is, in Dex, the balance between the buys and sells against the Reserves on a given Pool. So the distribution of the G$ (potential sell) is only related to its organix buy preassure.
Price monitoring should be done externally by side Contracts connected to the Pool in addition to any realtime managing of Uniswap V3 Ranges.
What do you expect to happen if we move the liquidity to DEXes?
I am not sure if i got the question. The G$ liquidity was always on DEX environments.
Would it facilitate or make it harder for people to transact with each other?
The flow happening for people using the G$ APP should be thesame, as the logic is happening in the App backend.
The flow for people managing their G$ on selfcustody mode would have an extra step, if sending LP despite G$ itself. But Uniswap has tutorial and public reviews in mostly any posible language.
Anyway the Redeployment V1: i mention should happend ASAP while all this financial inflows are wrote down for V2.
Hello, I’m Manuel Andrés Muñoz, a community moderator for the past two years and a member of the GoodDollar community since its early days. Back then, many things were new, such as the idea of a basic income, which was just being considered due to the global crisis. Basic income started to be seen as an option to provide security to the most vulnerable. Additionally, we were on the brink of a bullish rally in the crypto market, and within the community, we exchanged goods and services for G$, assigning it the value we deemed fit. At that time, the value of G$ was speculative, but it was also when speculation was at its lowest because we all reached a balance between supply and demand for G$ for use within the Facebook community.
Through this process of price discovery and protocol understanding, I became deeply interested in the GoodDollar protocol. Witnessing the potential to generate genuine aid through people willing to donate their yields via yield farming initially blew my mind. However, this was just the first instance of my thinking being challenged. I initially questioned whether increased circulation of G$ would diminish its value. It seemed like common sense at the time, until I grasped two key concepts. First, the protocol leveraged supply and demand to ensure that as the maximum supply approached its limit, the price would also increase. I began to see GoodDollar not only as a means to distribute money to all, akin to UBI, but also as a tool for inclusion in the blockchain sector. Understanding that a token’s value lies not only in its price but also in its circulation and utility within various communities reshaped my perspective. This realization elevated the value of G$ beyond its USD equivalent. It was a moment of cognitive reconfiguration.
With this understanding in mind, I believe we have a better context for why I propose/share my thoughts.
Firstly, I consider establishing a plan to restore G$ issuance a high priority. The current supply may prove insufficient, particularly if the reorganization of G$ issuance takes longer than expected.
Secondly, I emphasize the importance of not selling any assets mentioned in the post. For instance, Fuse currently appears undervalued in the market. Selling assets prematurely risks missing out on potential gains during a bullish market. If such a decision is considered, it should only proceed after careful analysis to ensure that the benefits outweigh the opportunity costs.
Thirdly, addressing the negative impact of the exploit on the protocol is crucial. It’s essential to create strategies to reactivate liquidity within the protocol. Currently, price fluctuations due to low liquidity exacerbate uncertainty, especially from a community moderation standpoint.
Moving forward, I suggest:
-
Establishing a multi-token, multi-chain reserve primarily comprising low-risk assets with a smaller portion allocated to higher-risk tokens. These tokens should pay a fee for inclusion in the reserve and be authorized by the DAO.
-
Creating a distributed reserve to facilitate integration with additional chains. Despite the community’s imperative to exchange G$, its Ethereum-centric nature limits accessibility due to high gas costs.
-
Seeking liquidity from sponsors. While this has been explored previously, it needs to occur more frequently. Collaboration with major businesses to accept G$ at a fixed price in their stores could expand its utility and demand, thus increasing its value. Such collaborations can bolster protocol liquidity, as seen with Celo’s subsidies to Good Labs for GoodDollar development.
I believe the DAO should endeavor to attract liquidity through initiatives such as activating staking with the approved 5% annual yield in V3 and exploring everyday use cases for GoodDollar. This brainstorming should involve community spaces with support from GoodDollar ambassadors, hence my organization of a community space for discussion on February 10
Lastly, I propose seeking assistance from eToro, GoodDollar’s most significant sponsor and a key player throughout the protocol’s journey. While their contributions are appreciated, addressing liquidity drain issues directly through eToro seems the most viable solution.
While my suggestions may not hold all the answers, I believe they serve as a solid foundation for discussion and potential improvement in the future.
3 Likes
The Space will be on X
if you want, to join with us and share
https://x.com/GoodDollarESP/status/1754607358301344223?s=20
2 Likes
I am Laboso wambogo, an ambassador from Kenya.
I am glad to find this opportunity to share my thoughts regarding the above discussion.
G$ value;
The G$ value wasn’t good before and has dropped with a thud for the past few months. The governance system should work towards bringing back to life the value of G$ as soon as possible. The drop in value has really impacted negatively my community who has started selling, buying goods and services using G$. Its difficult to give value of items in relation to G$ because the value isn’t predictable at all.
Initially, ambassador monthly compensation could cater for one month data bundle and few travel costs to allow ambassadors operate smoothly. Today, a similar compensation cannot subscribe for one month data. This has caused a lot of worries even to my community members some of who stored their wealth in G$.
Network interest for G$ liquidity:
On my side Celo works best so I would prefer Celo networks.
GoodDollar Reserve network:
I have no idea on the best network for G$ Reserve, but I would wish that any network used should be fully secure and simple to understand.
I will give more thoughts as soon as they are ready.
Thank you.
1 Like
Yes focusing on Celo to have a secure reserve there would help to lower the operational cost.
Most G$ are already sent on Celo.
There’s also Superfluid and Safe Account Abstraction on Celo to provide more features as tested for Superfluid in GoodCollective.
That’s what I would like to see happening.
2 Likes
I see Good Dollar Project as a Unique and Reliable one. First of all I would love to Appreciates the Good Dollar Team for creating such opportunity for us to share our thoughts
I suggest the claiming of G$ token should continue on Celo Network
Secondly…the Good Dollar Team should work on place a stable/fixed value on the G$ token… Example (1000G$= 0.2$)
I would really appreciate if my contribution be considered… thank you Good Dollar Team
1 Like
First of all, I would like to thank Good Dollar for giving us such a beautiful project, I am very sorry for what happened to Good Dollar last December, we all regret it, we have a lot of faith in Good Dollar, we have a lot of faith in it, we want May the good dollar recover once againLike everything is normal, thank you
Hi everyone!
It’s interesting how this situation presents a sea of possibilities for us to reimagine the project, as Meri mentioned. For this, we really must open our minds and see the bigger picture. Our advantage is the blockchain world itself, cuz it is as creative, mutable and limitless as we want.
GoodDollar runs under a Reserve Protocol model we can readapt and even “hybridify” to not just going back to full march but reach some goal the project and the community has been needing for a while now. But this is not the only layer in which GoodDollar is made of. We can also take this chance to evenly improve aspects as the way the UBI works, the GoodWallet and the GoodDapp, the governance system, the communities and even us as an organization. We could create a whole blockchain if we want! Since GoodDollar has the potential to be the host of multiple social/environment-oriented projects, would it be that crazy?
Obviously, this implies a huge process with a lot of work even if we only talk about the reserve and the liquidity issues, so it would be nice if whatever comes out of our brainstorming gets broken down into a roadmap for us and the community know and participate in, alongside with work teams plan I’ll mention later.
Since my knowledges may be not deep enough, I’ll present my proposal in multiple questions:
What if we stop pursuing to restore the G$ value to what it was, and we start from scratch (being the current value the base price)?
How about we set the UBI amount to a specific value in dollars so no matter the fluctuation of the price of the token, users will receive a fixed income?
-
I.e. If $1 = 10000 G$, the UBI can be set to an equivalent of $0.50 (5000 G$). Then, when G$ gets a x10, the UBI will change to 500 G$ and so on.
-
After all, the name of our brand is GoodDollar, so we must use it as a real reference.
How about we set a token lock system for 50% of the daily UBI to:
a. Prevent for users drain off the token.
b. Implement a plan to feed the reserve and the liquidity.Is it possible to create a staking program? In which the rewards for staking this 50% of the daily UBI are divided into three, being 50% for the user, 25% for the reserve and 25% to provide liquidity.
Is it possible to create a contract with multiple signatures (in custody of the GoodDAO) to allocate this 25% of the UBI exclusively to provide liquidity to DEXs and Dapps?
Note: This proposal isn’t presented as a unique solution but aims to work as a complement of it and was thought as a “stage” or a “phase” of a possible roadmap of multiple actions, so it could be implemented temporarily or intermittently. Any cypher and percentage are subject to modifications and are used as a mere example.
Additionally, it’s a must to:
Utilize different marketing strategies to attract users in every phase of the redeployment whatever it includes.
Create a portfolio of products and services to acquire and provide using our token for trading.
Create multiple and interconnected work teams composed by members of the organization, of our communities and even maybe external actors to detect, address, develop and execute strategies and solutions in all the areas that compose the project.
Be self-critical and receptive to the opinions of our communities. They’re the heart of any project. We have a rocky path to regain that trust, faith and interest we lost even way before the security breach. Egos, prides, investments, believes, antiquities and hierarches aside, we need to prioritize our communities. None of those factors give us more capacity or knowledge than any other member, and with this point I’m being the voice of several of them.
Work together and believe in what we’re doing.
Thanks for reading! 
1 Like
Hello everyone!
I’m staggered by the huge number of replies. which gives a clear picture of how alive GoodDollar and its community are despite the setbacks. That’s great.
I’ve been meticulously reading all the replies. All them are very interesting, although i admit i don’t understand the 100% of the most technical ones, but i get the ideas. From what i read, i that there is a major concern in the community, especially among claimers and people who make real use cases of the token, and it’s about the: value and availability of the token.
I think it’s an important issue that must be addressed first. A lot of people who saved money on G$ and that was doing real use cases of the token has been severely affected, from paid ambassadors to programs like Good Microgrants, RightfulShare etc,
In my opinion, if the token value and liquidity is not restored, this could harm the trust of a big part of the community in the project. A kind of damage hard to address later.
About the reserve: I believe that moving it from ETH, where the costs are high to some of the others mentioned (CELO, Polygon, NEAR etc could be a good step.
This is just my two cents. I’m sure a lively and thriving community like ours will find the correct way to solve this problem.
1 Like
First of all, I would like to thank Good Dollar for giving us such a beautiful project, I am very sorry for what happened to Good Dollar last December, we all regret it, we have a lot of faith in Good Dollar, we have a lot of faith in it, we want May the good dollar recover once againLike everything is normal, thank you
1 Like
Hi everyone! Yesterday Community Call was very very interesting regarding this topic. It would be great if somebody from the Team could post a summary of it 
1 Like
Really cool to see the community engaging here and the participation in the community Call. Following your suggestion here is the video recording of the call: https://youtu.be/gZDv07z3Ddo
Key topics: We talked about the feedback shared here, the protocol priorities moving forward to restart following up this feedback, gooddollar supply and the liquidity initiative.
2 Likes
Hello everybody!
Following this conversation it has become evident that the GoodDollar community has many members eager to contribute to the GoodDAO’s effective redeployment of the protocol.
Happy to announce that I just posted a new Discourse post to kick start a Protocol and G$ liquidity group! The proposal is designed to solicit feedback on the concept of the working group and recruit GoodDAO members who would like to contribute to explore effective strategies and viable pathways for improving GoodDollar liquidity and protocol.
If you are interested in take an active role or provide feedback please comment: Protocol & G$ Liquidity Group
5 Likes
Name: alva fauzy
Telegram:@alva_inspwct
Languages spoken: indonesia
How are you related to the GoodDollar community?
Do you use DEXes?
Have you experimented with deploying liquidity?
How can you contribute to the group?
Any other information or feedback about this initiative that you would like to share?
1 Like
This is a good idea for me now I’m hearing my my dollar but I do not spent it
1 Like
I love this idea, it’s so inspiring and most of all a room for possible actions.
2 Likes
I’m interested in this what would I have to do to be apart of this
1 Like
@Emmydre and @Fallin1Hidious, you can participate in on Liquidity Working Group leaving your postulation in this discussion:
Everyone is welcome to collaborate. Thank you so much for your interest!
3 Likes
I have a few specific suggestions, based in part on my membership of Bankless DAO since July 2021.
First, the security issue needs to be taken very seriously. Bankless have Info Sec team members who could be useful additions to teams here at G$, if someone is able to reach out.
Second, for liquidity, Bankless have a similar problem but for different reasons. While UBI is a superb ambition, revenue generation is also something to pay close attention to. If G$ give grants to certain projects, there should be a moral obligation / smart contract agreeing to repayments where a grant recipient is able to become self sustaining. It may take support from G$ to get there, but self sustaining projects are gold dust, and supportive of higher valuation across the whole crypto economy.
Thirdly, a common problem in DAOs, how to attract and retain talent, getting folk into the DAO on three deliberate levels. Interested spectator, occasional contributor, eg using bounties, and core team contributor, with defined roles. A focus on all three areas will yield different roles, different actions.
A final point, I have close connections with Solana based in London. Solana have the biggest level of transactions in the whole of Crypto, plus a superb startup oriented ecosystem. I’d be happy to make some introductions as needed.
I’m happy to engage in dialogue, but typically I find DAOs not so good at asynch dialogue, and in person AMAs very restrictive and limited when it comes to showcasing what people can contribute.
2 Likes